Bullion market suffers Rs300 cr loss due to bandh

Mumbai's bullion market suffered a loss of Rs300 crore on Thursday due to the nation-wide bandh called by the Opposition parties against hike in petrol prices.

"The Zaveri Bazar, the main hub of bullion market in the city, remained shut today. Bullion trade suffered loss of 100 to 125 kg or worth around Rs300 crore following the strike," Riddisiddhi Bullions director Mukesh Kothari said.

Apart from select E-traders, bullion traders observed 100% shutdown today, Kothari added.

The national strike hit economic activity across the country, causing losses of several thousand crores as the rail, road transport and air were suspended in several states and trading activity disrupted across markets.